Should I list my home in the Winter months?
Should I list my home in the Winter months? Absolutely! There is a mistaken idea that homes sell better in warmer months, but there is plenty of evidence that homes sell at anytime, but Winter has some advantages that other months may not have.
Realtytrac’s longitudinal study of when is the best time to buy a home found that October is the best month followed by February, July, December and January. Four out of five of the top months are Fall or Winter months. The best day of the week to buy a home is Monday, and October 8th is the best day of the year. That one study blows a huge hole in the “Spring is the best time to list” theory.
Should I list my home in the Winter months? Why?: Inventory is lower
For one, inventory tends to be lower in the cold months. That gives a seller more visibility because competition is lower. The current Winchester-Frederick County, VA market only has 270 previously owned homes on the market. The market typically has 500-600. The current inventory makes great homes fly off the market.
Think about what low inventory means to a home seller. When the competition is lower, a home seller has more opportunity to make a greater profit on a home sale. Buyers will pay more for a home they fall in love with when there are fewer homes to compare it to. Low inventory, means higher sale prices and quicker sales.
Should I list my home in the Winter months? Why?: Fewer showings
Buyers tend to look at fewer homes in the Winter months. It’s dark early. It can be cold outside (depending on your market). There are fewer homes in their criteria list. Our company has more buyers who buy the first home they see in the Winter months. Why? Because buyers have done their homework before looking at homes. When the inventory is up and the sun is up and the curiosity of buyers is up, they will shop and shop and shop.
In the Summer, a buyer may look at a dozen homes before settling on a home to make an offer on. In the Winter, the process is much faster and the buyer moves more quickly. Therefore, a seller will have fewer people passing through the listed home.
Should I list my home in the Winter months? Why?: Curb appeal is curbed (a little)
If you have kept your yard and home in good shape throughout the year, the Winter months may give you a bit of a respite from all the exterior maintenance. You’re not mowing (again, depending on your market) as much, if any. You’re not trimming hedges as much. Once any leaves are off the lawn, you are pretty well set for the season.
Should I list my home in the Winter months? Why?: Holiday fare may be a plus (but not always)
There is something endearing about a beautifully decorated home during the Winter months. When a buyer comes into a home that is welcoming and cozy, there is a sense of ease and comfort that comes with that. A warm environment, accent lighting, tasteful decorations and a sense of comfort gives buyers the ability to see themselves living in the home.
Don’t be afraid of a Winter listing. The general school of thought is that Spring is the time to list because it’s warmer, it’s lighter longer and more homes are coming on the market. All of those things are true, but the competition is also greater, and with an increase in inventory, there will be a far more showings and more competitive bidding on home prices. Winter has advantages over these issues.
There are many more reasons to list your Virginia or West Virginia home in the cooler months, but you get the idea. Every season has some advantages, and Winter is no different. When you’re ready to sell your Virginia home, give Cornerstone Business Group, Inc., a call. We are your local real estate sales pros.